Indo Farm Equipment is into Automobile Agricultural and Construction Equipments sector and is looking raise funds through Fresh Issue and Offer For Sale
IPO Summary
Indo Farm Equipment IPO is a public offering of shares by Ranbir Singh Khadwalia and Sunita Saini. The IPO will open on December 31 and will close on January 02. The price band is ₹204 to ₹215 per share and the lot size is 69 shares. The issue size is ₹260.15 crore. The shares are expected to be listed on NSE, BSE on January 07 (^). Some additional information that you may find useful are: Share of revenue from Tractor/Crane/NBFC segment is 49%/45%/6%. More than 60% of revenue is contributed by 5 states which are Gujarat, Punjab, Maharashtra , Karnataka and Tamil Nadu. EBITDA Margins at 16.7% in FY24 (v/s 15.8%/14.8% in FY23/FY22): (**) - based on higher price band (^) indicative datePromoters of the company are Ranbir Singh Khadwalia and Sunita Saini Currently promoters hold 93.45% stake in the company. While post-equity promoters stake will be 69.44%
- Company aims to raise between Rs 247 to 260 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Rs70.07 cr capex for crane manufacturing unit 2) Rs50 cr to repay/prepay debt 3) Rs45 cr investment in NBFC subsidiary and 4) General corporate purposes
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 30-Dec-24.
- Price band for the IPO has been fixed at Rs 204 to 215 per share and bid lot are in multiple of 69 shares. The implied market cap post-issue at Rs 980 to 1,033 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on January 03 and share are expected to be listed on NSE, BSE on January 07.
- Company has direct peer competition in India'a Tractor and Construction Industry. In Listed space peers in Tractors space include Escorts Kubota Limited, International Tractors Limited, among others. Listed peers in Crane segment including Action Construction Equipments amongst others. Company currently holds 0.4% Market share into tractor industry in India (v/s 12.2%/11.01% market share by International Tractors/Escorts Kubota).
- Aryaman Financial Services has been appointed as Merchant Banker to the issue. MAS Services Ltd. has been appointed as official registrar of the issue.
Company has undertaken pre-IPO placement by the way of Private placement of Equity Shares and alloted 1,900,000 shares at a price of Rs 185per share. Total value of Pre-IPO placement is Rs. 35.2 crores issued to Undertaken Pre-IPO Placement of 1,900,000 Equity Shares of ₹ 10/- each at the rate of ₹ 185/- per share .
Key Pointers of Indo Farm Equipment IPO:
| Indo Farm Equipment Limited IPO Snapshot | UdhyamPitch on X | |||
|---|---|---|---|
| Established | City | Sector | Sub-Sector |
| 1994 | Chandigarh | Automobile | Agricultural and Construction Equipments |
| Issue | Issue Type | Tentative Listing Date | Listing at |
| IPO (Fresh+OFS) | Book Building | 07-Jan-24 | NSE, BSE |
| IPO Dates | Price Band (Rs/sh) | Face Value (Rs/sh) | Min Lot Qty |
| 31-Dec-24 to 02-Jan-24 | ₹ 204 to 215 per sh | ₹ 10 per sh | 69 sh and in multiples |
| Retail App (min) | Retail App (max) | Non-Retail (Rs2-10L App) | Non-Retail (>Rs10L min App) |
| 69 shares ₹ 14,835 | 897 shares up to ₹ 192,855 | 966 to 4,623 shares ₹ 207,690 to 993,945 | 4,692 shares and above ₹ 1,008,780 and above |
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
About Indo Farm Equipment Limited
Established in 1994, Indo Farm Equipment is promoted by first generation technocrat. Company is into manufacturing of Tractors, Mobile cranes. Company has a manufacturing plant at Baddi (Himachal Pradesh) spread across 100 acres with a) Tractor manufacturing capacity of 12,000 unit and b) Crane manufacturing capacity of 1,280 units. It also having a RBI Licensed NBFC for giving loans to buy tractors. Company sells its products through a network of 159/16 dealers in Tractor/Crane segment across India.
Share of revenue from Tractor/Crane/NBFC segment is 49%/45%/6%. More than 60% of revenue is contributed by 5 states which are Gujarat, Punjab, Maharashtra , Karnataka and Tamil Nadu. EBITDA Margins at 16.7% in FY24 (v/s 15.8%/14.8% in FY23/FY22)
About Industry
The global tractor market is projected to grow from USD 84.80 billion in 2024 to USD 114.5 billion by 2029, at a CAGR of 5.90% during the forecast period. Tractor has been one of the most essential machineries in mechanising the agriculture activities globally. Globally the mobile crane market size is anticipated to grow from USD 21.10 billion in 2024 to USD 29.10 billion by 2029, at a CAGR of 6.65% during the forecast period. The global agriculture equipment market is projected to grow from USD 180.81 billion in 2023 to USD 296.61 billion by 2030, at a CAGR of 7.3% during the forecast period.
| Indo Farm Equipment Limited IPO Dates | UdhyamPitch on X | |
|---|---|
| Anchor Open | 30-Dec-24 |
| IPO Open | 31-Dec-24 |
| IPO Close | 02-Jan-24 |
| Allotment | 03-Jan-24 |
| Credit of Shares | 06-Jan-24 |
| Refund | 06-Jan-24 |
| Listing | 07-Jan-24 |
| Anchor Investor Lockin (50% of Anchor book investment) | |
| Anchor Investor Lockin (Balance 50% of Anchor book investment) | |
Kindly note UPI Mandate deadline is 5:00 pm IST on closing date. To avoid last minute issue, request you to approve UPI mandate before 4:00 pm IST on last day. In case, UPI mandate has not been approved during the prescribed time period, applications are liable to get rejected.
There are highly chances of variation in dates. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Indo Farm Equipment Limited IPO - Management Details: | |
|---|---|
| Ranbir Singh Khadwalia, Chairman and Managing Director | |
| Anshul Khadwalia, Whole Time Director | |
| Varun Sharma,, Chief Financial Officer | |
| Navpreet Kaur, Company Secretary and Compliance Officer | |
| Shubham Khadwalia, Executive Vice President Sales & Marketing - Construction Equipment and International Division | |
Visit DRHP / RHP for more details on Board of Directors and Management details.
| Indo Farm Equipment Limited IPO - Details of Offer/Issue Breakup | UdhyamPitch on X | |||||
|---|---|---|---|---|---|
| Category | Quota (%) | No of Shares-Lower | No of Shares-Upper | Value (Rs Cr)-Lower | Value (Rs Cr)-Upper |
| QIB (Incl Anchor) | 50 | NA | 6,050,000 | NA | 130.08 |
| Non-Retail (NII) | 15 | NA | 1,815,000 | NA | 39.02 |
| Non-Retail (NII): >Rs10L | NA | 1,210,000 | NA | 26.02 | |
| Non-Retail (NII): Rs2L-Rs10L | NA | 605,000 | NA | 13.01 | |
| Retail | 35 | NA | 4,235,000 | NA | 91.05 |
| Employee | NA | . | . | ||
| Shareholder | NA | . | . | ||
| NA=Not Available or Not Calculated | Upper= Upper Price Band | Lower=Lower Price Band | |||||
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
Check IPO Allotment status of Indo Farm EquipmentIPO:
| Indo Farm Equipment Limited - Anchor Lockin Dates and Details | |
|---|---|
| Anchor Investor Lockin (50% of Investment for 30 days) release of | |
| Anchor Investor Lockin (Balance Investment for 90 days) release of | |
Above information is automatically calculated based on estimations. Chances of errors/changes could be possible due to holidays and/or other conditions. Users are requested to Visit BSE, NSE, SEBI for more information or contact the Company/Merchant Banker/RTA for more information.
| Indo Farm Equipment Limited - Documents | |
|---|---|
Disclaimer:
Above article only publishes details on the companies and about forthcoming / upcoming IPO' and are solely intended for educational purpose. We don't solicit or invite any interest of user to invest in any of the investment products. Please review DRHP/RHP/Prospectus for more details about the company, fundamentals and other details. Please visit respective sources to verify and know more details about the IPO. SME IPOs can be more volatile due to smaller market capitalization and liquidity. Prices may fluctuate significantly in response to market conditions. We advise users and/or investors to take opinion from certified and SEBI registered experts before taking any investment decisions.
| Source: SEBI, BSE, NSE |
|---|
FAQ
Posts
0 Comments